European Central Bank

**Your team**

You will be part of the Stress Test Modelling Division (STM) in the Directorate General Macroprudential Policy and Financial Stability (DG-MF). We support the activities of the ECB and the European supervisory authorities by providing quantitative models, scenarios and advanced analytical input for assessing the potential impact of systemic risks on the stability of the euro area and EU financial system. In addition, we support European and international discussions on systemic risks and the financial sector’s resilience, particularly by contributing to ECB publications and providing appropriate analytical support to the European Systemic Risk Board.

Our Division has around 30 members of staff and is responsible for:

- developing and maintaining the ECB models and infrastructure/systems used to perform stress-testing exercises, with a focus on stress tests for macroprudential purposes, and to support the microprudential stress testing activities (covering credit, market and profitability risks) of the ECB and the European Supervisory Authorities (ESAs), through the provision of scenarios and advanced analytical input;
- We work on the interactions between macroprudential policy, financial stability and monetary policy;
- We are also developing state-of-the-art models to assess the implications of climate change for financial stability risks.

In your role as a trainee, you will be part of one of the Division’s teams, which focus on policy-relevant analysis and model development for some of the specific tasks outlined above. The content of the traineeship will depend on the team you join and your personal skill set.

**Your role**

As a trainee, you will:

- prepare data for regular internal and external publications;
- contribute to presentations for managers;
- participate in data collection and research assistance for relevant analytical projects, the development of stress test models (including climate stress test models) and macro-financial policy assessment;
- help to maintain, update and enhance the stress testing, financial and real economy databases;
- assist in the development of data visualization tools and coding for efficient data processing, while facilitating user access to complex datasets;
- collaborate with colleagues and other ECB departments in maintaining and improving the Stress Test IT systems.

The position offers you excellent opportunities to become familiar with macroprudential policy and financial stability through different tasks and projects. From the early stages of the traineeship, you will be able to develop your potential and have a real impact on the work of the Division. You will have the opportunity to work alongside leaders in the field of financial stability.

You will have the chance to attend a wide range of seminars and to access the ECB’s library, computing, programming and statistical resources. You will have an excellent opportunity to network, engage with other employees and increase your personal awareness and business knowledge. You will be part of a multicultural team that strives for continuous innovation to make a positive impact on the lives of European citizens.

**Qualifications, experience and skills**

**Essential**:

- a bachelor’s degree or higher in finance, economics, statistics, mathematics, engineering, business administration (with a focus on accounting), physics, computer science or a related field;
- an advanced knowledge of programming languages (e.g. MATLAB, Stata, Python, R, SQL) and econometric software (e.g. EViews);
- an advanced knowledge of the MS Office package, in particular Excel;
- some experience in preparing, handling and analysing datasets based on various data sources;
- an advanced (C1) command of English and an intermediate (B1) command of at least one other official language of the EU, according to the Common European Framework of Reference for Languages.

**Desired**:

- a master’s degree (either completed or close to completion) in finance, economics, statistics, mathematics, engineering, business administration (with a focus on accounting), physics, computer science or a related field;
- experience working with big data and/or firm-level data and familiarity with Spark and Apache Hadoop infrastructure;
- a sound understanding of derivative pricing;
- a good analytical ability and familiarity with macroeconomic or financial statistics (at the sector, institution and transaction levels);
- some experience in one or more of the following fields: econometrics (e.g. macroeconometrics, microeconometrics, time series analysis, financial econometrics, panel data econometrics, empirical banking), financial statement analysis (e.g. balance sheets of banks and other financial institutions), DSGE models, network analysis, mathematical optimisation models,
- familiarity with (micro-level) databases of climate-related data (e.g. Urgentem, Institutional Shareholder Services, Carbon4Finance, Moody’s 427) and c